Does Your Background Check Business Need a Merchant Account?
Background check companies play an essential role in our society, helping employers, landlords, volunteer organizations, and other entities screen and vet their personnel easily and cost-effectively. Unfortunately, these businesses also face enormous challenges when it comes to getting approved for a background check merchant account. For several reasons, most creditors consider background check companies to be “high-risk merchants.” Often, the only option these businesses have for payment processing is to look specifically for processors that offer high-risk merchant accounts. If your business requires a high-risk merchant account for a background check company, Premier One Payments can help.
Why choose Premier One Payments?
At Premier One Payments, we make it easy to establish and maintain a reliable background check merchant account. Our payment processing solutions are designed specifically with so-called “high-risk” businesses in mind, making us the perfect fit for your background check business. This factor alone makes us popular among background check businesses that have had trouble establishing merchant accounts with banks or other payment processing providers. However, we also bring a range of attractive features to the table. We not only want your business to have payment processing tools, but we want you to have top-tier tools that make it easier for your business to thrive, succeed, and deliver stellar service to your customers.
Some of our key features include:
- Support for a variety of payment options (including credit card, debit card, electronic payments, and checks)
- Secure point-of-service terminals, to ensure that customer payment information is protected
- Seamless online processing for payment card transactions
- Industry-minimum pricing and payment processing fees
- Free cost comparisons with other providers
- No account setup fees
- Helpful customer support, available over the phone or through online chat
- Robust chargeback protection
- High approval rates
- Quick approval turnarounds
Do you need your high-risk merchant account approved quickly? Premier One Payments prides itself on being fast and open with its application approval process. We accept 98 percent of the applications we receive and generally issue those approvals within 48 hours. In most cases, we find that we can get our customers up and running with functional payment processing solutions much faster than they anticipate.
Why Getting a High-Risk Merchant Account For a Background Check Company is Such a Challenge
The services background check companies provide, are versatile and wide-ranging. These companies are who businesses rely on when they need to conduct criminal background checks on new hires. They also offer driving record checks, civil history checks, education and employment verification checks, license checks, credit history checks, and more. By conducting these types of checks, employers can reduce the risk of making a poor hiring decision. Since inadequate hires can lead to anything from costly employee replacement processes to negligent hiring lawsuits, it’s fair to say that background checks are an essential component of a company’s day-to-day HR operations.
The value of background checks goes beyond employers, too. Landlords run credit checks to assess whether a prospective resident will be able to make rent payments reliably and on time. People run checks on themselves, too, whether to find out what their credit score is or to see what employers might be seeing on their criminal background checks.
For all these reasons, the background check industry is growing. Right now, though, that growth is hampered by the fact that payment processing for a background check merchant account is so difficult to find. Businesses in this industry are considered to be “high-risk” by payment processors, mostly because they tend to see a higher rate of payment card chargebacks than many other sectors.
Why are chargebacks so common for background check companies? There are a few reasons. One typical example is when customers sign up for a free or discounted trial version of a background check service. If they forget to cancel the service before the trial ends and payment terms change, they might file a chargeback as a way to get their money back.
Customers may also initiate a chargeback on a background check business because they are disappointed in the quality of the service they get. Most people do not understand fully how background information—particularly criminal history information—is cataloged. There is a common misconception that there is a comprehensive database full of background information and that every background check will, therefore, turn up every piece of data available about a person. In reality, this information is scattered across many different locations and databases—from county courthouses to credit reporting bureaus. Not understanding the complexity of the background check market, a customer might initiate a chargeback when the background check report they ordered doesn’t include all the information they hoped to see.
Regardless of the reasons why customers initiate chargebacks, the simple fact is that chargebacks are a problem for businesses. Banks and merchant account providers do not want to be stuck in a situation where they are covering the fees or refunding the transaction amounts covered by the chargeback. As a result, many payment processors will simply label industries with high chargeback rates as being “high-risk” and then refuse to work with any businesses in these sectors. The background check industry is one market affected by this negative association.
Obviously, not being able to accept credit or debit card payments is a huge roadblock for any background check business. Employers or individuals seeking background check data often expect a quick or even instantaneous turnaround on those services. For this reason, background check companies are almost all predominantly online businesses that handle the majority of their transactions via card. Without a reliable merchant account, these companies arguably cannot even operate.
Our Chargeback Protections
At Premier One Payments, we know what it takes to protect against chargebacks. While chargebacks are certainly justified in some situations, the fact is that many customers initiate these processes out of anger, frustration, or dissatisfaction with a product or service that was delivered 100 percent as described. This practice—known as “friendly fraud”—negatively impacts businesses, even if they were operating in an honest and upstanding fashion. Companies can challenge these chargeback claims, but the process is time-consuming and expensive, leading many firms to cut their losses rather than fight back. Since the Fair Credit Billing Act gives consumers the benefit of the doubt here, a chargeback request always stands (and must be granted) unless the merchant challenges it.
Premier One Payments helps by offering chargeback monitoring and protection as part of merchant account services. We look out for new chargebacks on your account and take the steps necessary to challenge and fight against friendly fraud. In doing so, we can both save your business money and help you avoid the high chargeback ratio that makes finding merchant account services such a hurdle for background check businesses. We are experienced with offering this type of chargeback protection, having worked with high-risk industries such as travel agencies, crowdfunding sites, adult entertainment businesses, and other entities that have historically been deemed “high-risk” by most other merchant account providers.
Have you been searching fruitlessly for a high-risk merchant account for your background check company? If so, Premier One Payments is here to help you put an end to that search. We believe that legitimate businesses should have a chance to be competitive in the marketplace, even if their industries are considered to be too risky for most banks or merchant providers. We are ready to give you that chance. Get in touch today to learn more.
Learn More about Premier One and Our Merchant Accounts for Background Check
Premier One Payments helps by offering chargeback monitoring and protection as part of merchant account services.
- Chargeback Protection
- Credit Card Processing
- Mobile Payments
- Multiple Payment Solutions
Merchant Account Experts
- Fast Debt Collection Account Approval
- High Risk Accounts
- Domestic or Offshore Merchant Account
- No Set Up Fees
SEE MORE GREEN, FASTER,
- We’re not just credit cards. And neither is your business. By providing eCheck options to customers, you increase business… and the speed at which you get paid!
HIGH RISK SPECIALISTS
- High-volume, high risk merchant processing solutions include load-balancing gateways and multiple MIDS. Beyond secure terminals and speedy payments, you’ll have the support of a high-risk specialist on your speed-dial.